UNEMPLOYMENT has fallen again and wage growth has slowed, new data from the ONS shows.
The rate of unemployment fell to 4.0% in the three months to August 2024, which is below estimates of a year ago.
Meanwhile, the estimated number of job vacancies in the UK decreased in July to September 2024, by 34,000 in the quarter to 841,000.
The decrease marks the 27th month in a row that vaccines declined but the figure is still above pre-pandemic levels.
The figures from the ONS also show that wage growth was up 1.9% from June to August 2024.
It also showed that wages, excluding bonuses in Great Britain rose 4.9% from June to August 2024, and annual growth in total earnings, including bonuses, was 3.8%.
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Alice Hayne, personal finance analyst at Bestinvest by Evelyn Partners, the wealth manager, said it was encouraging that "pay packets are seemingly stretching further than they did a year ago."
However, she warned that more employees could be moved into higher tax bands as a result of frozen tax thresholds.
She explained: "Household finances may have a little more wiggle room thanks to easing inflation but consumer confidence has taken a dive in recent weeks, which might indicate trepidation about the tax measures Chancellor Rachel Reeves will roll out in her maiden Budget at the end of this month. "